Course And Heading 04/27/20
Hello everyone, once again I hope you and your family are safe, healthy and are overcoming the challenges of distancing. We start this week with the S&P at 2837, lower than it was in January of 2018. That marks over two years of no gains but after seeing the devastation caused by Hurricane Corona , it is a positive sign we are not even lower than we are at this time. The VIX remains elevated but it felt like the seas (the market) calmed a little last week. That does not mean Hurricane Corona is over by almost any measurement as the previous hurricanes had several stretches of "calm" trading within them. Assuming Hurricane Corona is over then: If the S&P breaks 2900 we will call this a High Tide If the S&P breaks 2727 we were still in a Low Tide If Hurricane Corona is not over then: We are still in High Tide #5 and we are preparing for Low Tide #6 which could take us to the 2400 level and could take a few months to complete based